Overnight Data: None of note.

Today's Data / Events (GMT): 09:30 GBP Employment: Potentially Bearish GBP -- Possible downside surprise as job growth slows in services and construction. There was a particularly significant drop in services.

10:00 German ZEW Economic Sentiment: Potentially Bearish EUR -- Possible downside surprise as recent deterioration in EZ data could hit investor confidence.

21:45 NZD Q4 CPI: Potentially Bearish NZD -- Possible downside surprise as lower food and energy prices dampen CPI.

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